Israel-Hamas ceasefire sparks container futures sell-off

Asia-Europe container freight futures experienced a sell-off on 13 October as the Israel-Hamas ceasefire suggested a possible resumption of Red Sea transits.

Since October 2023, when the Israel-Hamas conflict broke out, mainline operators had been detouring round the Cape of Good Hope for Asia-Europe routes to avert Houthi assaults.

However, US President Donald Trump’s brokering of a ceasefire, announced on Friday, and Hamas’ return of Israeli hostages, triggered speculation that shipping lines could resume Suez Canal crossings.